A seasonally adjusted net 11% of business owners planned to create new jobs in the next three months, down 1 percentage point (pp) from February, and the lowest level since May 2020. The percentage of owners thinking it’s a good time to expand was 4%, down 1 percentage point from the previous month. 37% of owners reported job openings they could not fill in the current period, unchanged from February and the lowest reading since January 2021.
A net negative 10% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, up 3 pp from February. The net percent of owners raising average selling prices rose 7 pp from February to a net 28% seasonally adjusted. The net percent of owners expecting higher real sales volume deteriorated 8 pp to a net negative 18%. The frequency of reports of positive profit trends was a net negative 29% (seasonally adjusted) up 2 pp from February.
2% of owners reported that all their borrowing needs were not satisfied, down 1 pp. 27% reported all credit needs met (up 3 pp) and 59% said they were not interested in a loan (down 2 pp). A net 8% reported their last loan was harder to get than in previous attempts (up 1 pp).
Read the NFIB report.
